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- New York 08:10
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This report has been deactivated
As expected, the Monetary Council kept the base rate on hold (7.50%) today.
In the new quarterly Report on Inflation, the staff of the NBH raised its forecast for the 2008 average inflation to 5% y/y (from 4.5% published in August). For 2009, the new inflation forecast is 3% y/y (after 2.4% y/y in August). Both forecasts are more or less in line with expectations. The GDP growth forecast for 2007 was cut to 1.6% y/y, while for 2008 and 2009 the bank expects 2.4% y/y and 3.2% y/y GDP growth, respectively. In the August report, these GDP forecast figures stood at 2%, 2.7%, 3.4%, respectively.
The statement of the Monetary Council will be available a bit later, while the press conference is scheduled for 14.30. We will provide more information after that.
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NBH kept the base rate on hold (7.50%)
Tue, Nov 27 2007, 11:43 GMT
by Orsolya Nyeste
Erste Bank der oesterreichischen Sparkassen AG
As expected, the Monetary Council kept the base rate on hold (7.50%) today.
In the new quarterly Report on Inflation, the staff of the NBH raised its forecast for the 2008 average inflation to 5% y/y (from 4.5% published in August). For 2009, the new inflation forecast is 3% y/y (after 2.4% y/y in August). Both forecasts are more or less in line with expectations. The GDP growth forecast for 2007 was cut to 1.6% y/y, while for 2008 and 2009 the bank expects 2.4% y/y and 3.2% y/y GDP growth, respectively. In the August report, these GDP forecast figures stood at 2%, 2.7%, 3.4%, respectively.
The statement of the Monetary Council will be available a bit later, while the press conference is scheduled for 14.30. We will provide more information after that.
Published on Tue, Nov 27 2007, 11:44 GMT
Erste Bank
http://global.treasury.erstebank.com | Rainer.Singer@erstebank.at
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Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.
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